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<br />200703313
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<br />premiums, if any, or any lI'UtnS payable by BOITowt.:f to Lender in lieu of the payment of Mongage
<br />Insurance premiums in accordance with the provisions of Section 10. These items are callt.:d "Escrow
<br />Items." At origination or at any time during the tenn of the Loan, Lender may require that Corrummity
<br />Association Dues, Fees. and Assessments, if any, be escrowed by Borrower, and such dues, fees anel
<br />assessments shall be an Escrow Item. Borrower shall promptly furnish to Lender all notices of amountg to
<br />be paid undet this Section. Borrower shall pay Lender the 'F"unds for Escrow Items unless Lender waives
<br />Borrower's obligation to pay the Funds for any or all Escrow Items. .Lemler may waive Borrower's
<br />obligation to pay to Lender Funds fOr any or all Escrow Items at any time. Any such waiver may only be
<br />in writing. In the event of sui;h waiver, Borrower shall pay directly, when and where payable, the amounts
<br />due for any Escrow Hems for which payment of Funds has been waived by Lender and, if Lemler requires,
<br />shall furnish to Lender receipts evidencing such payment within such time period as Lender may require.
<br />l\orrower's obligation to make such payments and to provide receipts shalt for all purposes bfo! der:..meQ to
<br />be a covenant snd agreement contained in this Security Inst::rument, as the phrase "covenant and agreement"
<br />is used in Section 9. If :Borrower is obligated to pay Escrow Items dire~t1Yt pursuant to. a waiver. and
<br />Borrower fails to pay the amount due for an Escrow Item, Lender may exercise its rights under Section 9
<br />and pay such amount and Borrower shall then be obligated under Section 9 to repay to Lender any such
<br />amount. Lender may revoke the waiver as to any or all Escrow Items at any time by a notice given in
<br />accordance with Section 15 and, upon SlJch revocation, Borrower shall pay to Lender all Funds, and in
<br />mch amounts. that are then required under this Section 3.
<br />Lender may, at any time, collect and hold Funds in an amount (a) sufticient to permit Lender to apply
<br />the Funds at the time specified under RESPA, and (b) not to e~cee4 the maximum amount a lender can
<br />require under RESPA. Lencler shall estimate the amount of Funds due on the basis of current data and
<br />reasonable estimates of expendimres of future Escrow Items or otherwise in accordance with Applicable
<br />Law.
<br />The Funds shall be held in an insmution whose deposits are insured by a federal as:ency,
<br />instnunentality, or entity (including lender, if Lender is an institution whose deposits are so insured) or in
<br />any Federal Home Loan Bank. Lender shall apply the Funds to pay the EscrOW ,Items no later than the time
<br />specified under RESPA. Lender shall not chatge Borrower for holding and applying the Funds, annually
<br />analyzing the escrow account, Or yerit'ying the Escrow Items, 'unless Lender pays Borrower interest on the
<br />Funds and Applicable Law permits Lender to make such a charge. Unless an agreement is made in writing
<br />or Applicable law requires intert!St to be paid on the Funds. Lender shall not be required to pay Borrower
<br />lIDY interest or earnings on \he Funds. Borrower and Lender can agree in writins:, however, that interest
<br />shall be paic! on the FWlds. Lender shall give to Borrower, without charge, an annual accounting of tlle
<br />Funds as required by RESPA.
<br />If there is a Ilurplus of Funds held in escrow, as defmed under RESPA, Lender shall account to
<br />BOrrower for the excess funds in accordance with RESPi\. If there is a shortage of Funds held in escrow,
<br />as defmed under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to
<br />Lencler the amount necessary to make up the shortage in accord..'Ulce with RESPA, but in no more than 12
<br />monthly payments. If there is a deficiency of Funds held in escrow, as Ql;lt'ined under RESPA, Lend~ shall
<br />notify ,Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make
<br />up the deficiency in accor4ance with RESPA. but in no more than 12 monthly payments.
<br />Upon payment in fl1ll of all sums secured by this Security Instr\.lJl1e11t. Lender shall promptly refund
<br />to porrower any Funds held by Lender.
<br />4. Charge$; Lienrs. Borrower shRll pay all taxes, assessments, charges, fmes, and impositions
<br />attributable to the Propeny which can attain priority over this Security Instrument, leasehold payments or
<br />groWld rents on the Property, if any. and Comnmnity Association Dues. .Fe~, and Assessments, if any. To
<br />the (l~tent that these items ~rl,! Escrow Items, Borrower shall pay them in the mann(;,'T provided in Section 3.
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<br />G-6INEII00061
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<br />Pece5of16
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<br />Inlll~l~
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<br />Form :;I02B 1/01
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